Health and welfare benefit plans may be either defined benefit or defined contribution plans.
Health and welfare benefit plans include plans that provide:
Medical, dental, visual, psychiatric, or long-term health care; severance benefits; life insurance; accidental death or dismemberment benefits
Unemployment, disability, vacations or holiday benefits; and
Apprenticeships, tuition assistance, day-care, housing subsidies, or legal services benefits.
EBPAQC resources
EBPAQC Primer, Health and Welfare Employee Benefit Plans
This primer provides a general understanding of health and welfare employee benefit plans, and includes a general overview of health and welfare plans; discusses defining the plan, unique aspects of health and welfare plan contributions, funding of benefits, key roles and responsibilities, the annual health care process, unique aspects of health and welfare plan benefit obligations, benefits administration, when an independent audit is required, and applicable laws and regulations; and provides references to additional resources.
Actuarial methods and assumptions used in measuring plan benefit obligations in health and welfare benefit plans
This Employee Benefit Plan Audit Quality Center (EBPAQC) primer was developed to provide Center members a general understanding of the actuarial method and assumptions used in determining plan benefit obligations in defined benefit health and welfare plans under FASB ASC 965, Employee Benefit Plan Accounting—Health and Welfare Benefit Plans.